TD Cowen has listed several “Best Stock Ideas” for 2026, and among them are Advanced Micro Devices (AMD), a leading name in AI chips; United Airlines (UAL), one of the largest U.S. carriers; and Uniti Group (UNIT), which owns and leases fiber networks. The firm sees solid upside for all three stocks next year.
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AMD: Helios Stands Out as a Key 2026 Catalyst
TD Cowen analyst Joshua Buchalter kept a Buy rating and gave AMD a $290 price target, calling it the firm’s “Best Idea for 2026.” The price target indicates a 35% upside potential from current levels. The analyst said AMD is set for an important year as it starts to roll out its first full AI rack system, called “Helios.” The system brings together AMD’s hardware and its growing ROCm software.
He added that AMD has won new customers and is making steady progress in AI chips. While some investors still worry about strong rivals and the pace of AI spending, he sees the recent pullback in the stock as a good chance to buy. He expects a major lift in mid-2026 when AMD launches the Helios rack and the MI450 chip.
TD Cowen also expects AMD’s earnings to rise by late 2026. Buchalter models fourth-quarter 2026 EPS above $10, nearly double last year’s level, which he believes can support more gains in the stock.
United Airlines: Cowen Expects a Better Year Ahead
Meanwhile, Cowen reiterated a Buy rating and a $125 price target on United Airlines, naming it one of its top ideas for 2026.
The firm said United should see steady gains as Boeing’s (BA) production rates improve, which will help the airline speed up its fleet renewal. As newer planes enter service, United is expected to bring in more revenue from extra premium seats and lower its non-fuel costs as the fleet becomes more efficient.
Cowen also noted that United will face easier comparisons in 2026. Several one-off issues held back results in 2025, including trade policy pressure in the first quarter and airport disruptions at Newark in the second and third quarters. With those issues behind it, the firm believes United will be in a stronger spot next year.
Uniti Group: Fiber Expansion Sets Up a Strong 2026
TD Cowen also named Uniti Group as one of the firm’s Best Ideas for 2026, keeping a Buy rating and $8 price target on the stock, indicating 21% upside potential from current levels.
The firm said Uniti can now focus on growth after closing its Windstream deal. He said the company’s two main engines — commercial fiber and home fiber — should benefit from rising AI needs and stronger demand for fast home internet.
Cowen also noted that Uniti can raise cheaper debt to help fund more fiber work. As the share of fiber in its business grows, he expects the company’s revenue and profits to rise in 2026.
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